|CARNIVAL CORP filed this Form DEF 14A on 03/07/2019|
CEO Pay Ratio
All of the equity grants made to our Named Executive Officers contain confidentiality and non-compete provisions that restrict them from competing with Carnival plc. If they breach either of these provisions, they will forfeit the right to receive all unvested and unreleased equity grants.
Potential Value of Equity Grants Upon Termination of Employment or Change of Control
The following table details the value of all outstanding restricted share and RSU grants that would have become vested, or that could have continued to vest, subject to any non-compete and confidentiality requirement, for termination of employment or upon a change of control as of November 30, 2018. The true value of these equity grants for future vesting periods is subject to market fluctuations occurring over time.
Estimated Potential Value of Equity Grants(1)(2)
In accordance with SEC rules, we are providing the ratio of the annual total compensation of our Chief Executive Officer to the annual total compensation of our median employee. The 2018 annual total compensation of our Chief Executive Officer as set forth in the Summary Compensation Table is $13,515,884, the 2018 annual total compensation of our median compensated employee is $16,622, and the ratio of these amounts is 813 to 1. Our median compensated employee population consists of ship-based personnel who work fewer than twelve months of the year.
This pay ratio is a reasonable estimate calculated in a manner consistent with SEC rules based on our global human resources and payroll systems of record and the methodology described below. Because the SEC rules for identifying the median compensated employee and calculating the pay ratio based on that employees annual total compensation allow companies to adopt a variety of methodologies, to